CALGARY, AB, Feb. 1, 2022 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) is pleased to announce successful exploration well results, fourth quarter 2021 production details and a material expansion of its land base and prospect inventory. Highlights include:
Headwater Exploration Inc. Announces Exercise of Warrants Held by Cenovus Energy Inc.
CALGARY, AB, Dec. 21, 2021 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) announces that it has issued a call notice to Cenovus Marten Hills Partnership (“CMHP“), a wholly-owned subsidiary of Cenovus Energy Inc. (“Cenovus“), requiring CMHP to exercise the 15,000,000 warrants (the “Warrants“) to purchase common shares (“Common Shares“) of the Company that CMHP holds. Each Warrant entitles CMHP to purchase one Common Share at an exercise price of $2.00. Headwater and CMHP have agreed that CMHP will exercise the Warrants on December 23, 2021. On exercise of the Warrants, Headwater will receive … Continue Reading
Headwater Exploration Inc. Announces 2022 Budget, 2021 Guidance Update, Third Quarter Financial Results and Operational Update
CALGARY, AB, Nov. 10, 2021 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) is pleased to announce its operating and financial results for the three and nine months ended September 30, 2021. Selected financial and operational information is outlined below and should be read in conjunction with the unaudited condensed interim financial statements and the related management’s discussion and analysis (“MD&A”). These filings will be available at www.sedar.com and the Company’s website at www.headwaterexp.com.
Financial and Operating Highlights
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Headwater Exploration Inc. Announces Second Quarter Operating and Financial Results, Operations Update and Increased 2021 Guidance
CALGARY, AB, Aug. 5, 2021 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) is pleased to announce its operating and financial results for the three and six months ended June 30, 2021. Selected financial and operational information is outlined below and should be read in conjunction with the unaudited condensed interim financial statements and the related management’s discussion and analysis (“MD&A”). These filings will be available at www.sedar.com and the Company’s website at www.headwaterexp.com.
Financial and Operating Highlights
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Headwater Exploration Inc. Announces Results of Directors Vote
CALGARY, AB, May 13, 2021 /CNW/ – Headwater Exploration Inc. (TSX: HWX) (“Headwater“) is pleased to announce that the nominees listed in the management information circular dated March 29, 2021 were elected as directors of Headwater at Headwater’s annual and special meeting of shareholders (the “Meeting“) held today, May 13, 2021. The detailed results of the vote for the election of directors held at the Meeting are set out below.
Election of Directors
On a vote by ballot, each of the following nine nominees proposed by management was elected as a director of Headwater:
Nominee
Outcome of Vote… Continue Reading
Headwater Exploration Inc. Announces First Quarter 2021 Financial Results and Increased Guidance
CALGARY, AB, May 12, 2021 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) is pleased to announce increased guidance and its operating and financial results for the three months ended March 31, 2021. Selected financial and operational information is outlined below and should be read in conjunction with the unaudited interim condensed financial statements and the related management’s discussion and analysis (“MD&A”). These filings will be available at www.sedar.com and the Company’s website at www.headwaterexp.com.
Financial and Operating Highlights
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Sales, … Continue Reading
Headwater Exploration Inc. Announces 2021 Capital Budget
CALGARY, AB, Dec. 14, 2020 /CNW/ – Headwater Exploration Inc. (“Headwater” or the “Company“) (TSX: HWX) announces that the Company’s board of directors (the “Board”) has approved a 2021 capital budget of $85 – $90 million designed to provide December 2020 to fourth quarter average 2021 production growth of approximately 125%. The approved budget is expected to leave Headwater with a working capital surplus of approximately $45 million at the end of 2021.
2021 GUIDANCE SUMMARY
Average Daily Production
Crude oil (bbls/d) (1)
5,850 – 6,350
Natural gas (mcf/d)
3,800
Barrels of oil equivalent (boe/d) (2)
6,500 – 7,000… Continue Reading
Headwater Exploration Inc. Announces Receipt of Shareholder Written Consent for Transaction With Cenovus Energy Inc.
CALGARY, AB, Nov. 18, 2020 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) announces it has received written consents from shareholders holding a majority of the issued and outstanding common shares (the “Common Shares“) of Headwater approving the Company’s previously announced transaction (the “Transaction“) with Cenovus Energy Inc. (“Cenovus“). Pursuant to the Transaction, Headwater will acquire 100% of Cenovus’ assets in the Marten Hills area of Alberta.
Headwater will issue 50 million Common Shares and 15 million warrants (the “Warrants“) to purchase Common Shares exercisable at $2.00 per Common Share with a three-year term to Cenovus … Continue Reading
Headwater Exploration Inc. Announces Transformational Transaction With Cenovus Energy Inc. and Third Quarter Operating and Financial Results
CALGARY, AB, Nov. 9, 2020 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) announces it has entered into a definitive agreement with Cenovus Energy Inc. (“Cenovus”) for a transformational transaction (the “Transaction”) to acquire 100% of Cenovus’ assets in the Marten Hills area of Alberta for approximately $100 million. Pursuant to the Transaction, Headwater will acquire a 100% working interest in approximately 2,800 barrels per day of medium oil production and 270 net sections of Clearwater rights.
The total consideration to be paid to Cenovus for the Transaction consists of:
Headwater Exploration Inc. Announces Second Quarter Operating and Financial Results and Operations Update
CALGARY, AB, Aug. 5, 2020 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) announces its operating and financial results for the three and six months ended June 30, 2020. Selected financial and operational information is outlined below and should be read in conjunction with the unaudited condensed interim financial statements and the related management’s discussion and analysis (“MD&A”). These filings will be available at www.sedar.com and the Company’s website at www.headwaterexp.com.
Financial and Operating Highlights
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Headwater Exploration Inc. Announces First Quarter Operating and Financial Results and Operations Update
CALGARY, May 14, 2020 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX:HWX) announces its operating and financial results for the three months ended March 31, 2020. Selected financial and operational information is outlined below and should be read in conjunction with the unaudited interim condensed financial statements and the related management’s discussion and analysis (“MD&A”). These filings will be available at www.sedar.com and the Company’s website at www.headwaterexp.com.
Financial and Operating Highlights
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Percent
Change
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2019
Financial (thousands of dollars except share data)
Sales
2,308
6,009
(62)
Cash flow provided … Continue Reading
Headwater Exploration Inc. Announces 2019 Reserves, Fourth Quarter and Year End 2019 Operating and Financial Results, Operations Update and Adoption of New By-Laws
CALGARY, March 25, 2020 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX:HWX) announces its operating and financial results for the three months and year ended December 31, 2019. Selected financial and operational information is outlined below and should be read in conjunction with the audited financial statements and the related management’s discussion and analysis (“MD&A”). These filings will be available at www.sedar.com and the Company’s website at www.headwaterexp.com. In addition, readers are also directed to the Company’s Annual Information Form for the year ended December 31, 2019, dated March 25, 2020, filed on … Continue Reading